TMI Blog2021 (12) TMI 1252X X X X Extracts X X X X X X X X Extracts X X X X ..... date. The statute is very clear on this issue that for claiming the benefit of setting off of carried forward loss against the income of the subsequent year, the return for the assessment year in which loss was incurred has to be filed in time as specified u/s 139(1). If the assessee was prevented from filing the return within the due date, the remedy lies elsewhere, but, definitely not before the Tribunal. Since the assessee, in the instant case, has not filed the return of income for AY 2017-18 within the due date returning the loss of ₹ 8,67,803, therefore, the same cannot be carried forward to the subsequent assessment year to be set off against the income of AY 2018-19. We not find any infirmity in the order of the CIT(A) uph ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le Metropolitan Magistrate, Patiala House Courts, New Delhi. This had barred the assessee from entering into the terrace portion of the flat in Vasant Kunj where all his business and financial documents were kept which resulted in the late filing of the IT return. It was argued that the delay has happened for the first time in the last 25 years for a situation totally beyond his control. The assessee also enclosed a copy of the restraint order dated 09.11.2015 passed by the Court of the Metropolitan Magistrate, Patiala House Courts, New Delhi. 4. However, the ld.CIT(A) was not satisfied with the arguments advanced by the assessee and upheld the intimation issued by the CPC Bangalore disallowing the claim for setting off of the carried fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s made by the appellant. 3. On the facts and circumstances of the case and in law the learned CIT(A) erred in rejecting the submission made by the appellant merely on assumptions, presumptions and apprehensions, without appreciating the factual, legal and statutory position. That the above grounds of appeal are without prejudice to each other. That the appellant reserves its right to add, alter, amend or withdraw any ground of appeal either before or at the time of hearing of this appeal. 6. I have heard the rival arguments made by both the sides and perused the record. It is an admitted fact that the assessee filed his return of income for AY 2017-18 on 22nd January, 2018 as against the due date of 5th August, 2017. Since ..... X X X X Extracts X X X X X X X X Extracts X X X X
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